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OPEC revises 2021 non-OPEC output estimate down by 0.2m b/d; revises 2022 oil demand forecast up by 0.98m b/d to 100.8m
*OPEC REVISES 2021 NON-OPEC OUTPUT ESTIMATE DOWN BY 0.2M B/D
— zerohedge (@zerohedge) September 13, 2021
*OPEC REVISES 2022 OIL DEMAND FORECAST UP BY 0.98M B/D TO 100.8M
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OPEC SAYS ITS OIL OUTPUT ROSE BY 150,000 BPD IN AUGUST TO 26.76 MILLION BPD
— First Squawk (@FirstSquawk) September 13, 2021
OPEC RAISES 2022 FORECAST FOR GLOBAL DEMAND FOR ITS CRUDE BY 1.1 MBPD TO 28.75 MILLION BPD
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OPEC LOWERS Q4 2021 WORLD OIL DEMAND FORECAST BY 110,000 BPD TO 99.70 MLN BPD, CITING IMPACT OF DELTA CORONAVIRUS VARIANT – MONTHLY REPORT
— First Squawk (@FirstSquawk) September 13, 2021
OPEC KEEPS 2021 FULL-YEAR OIL DEMAND GROWTH FORECAST VIRTUALLY UNCHANGED AT 5.96 MLN BPD
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Monthly Oil Market Report - September 2021
Crude oil spot prices rose in July, m-o-m, as physical market fundamentals and declining oil inventories continued to support oil prices. The OPEC Reference Basket (ORB) averaged $73.53/b in July, representing an increase of $1.64, or 2.3%, m-o-m, the highest level since October 2018. Year-to-date, the ORB was up $25.43, or 63.8%, compared with the same period last year, to average $65.27/b. Crude oil futures prices also extended gains in July, buoyed by the outlook for strong oil market fundamentals. The ICE Brent front month increased by 88¢, or 1.2%, m-o-m to average $74.29/b in July, while NYMEX WTI gained ... (full story)